Hyundai Revises Sonata 2.5L Price in Pakistan With New Advance Tax

Hyundai Nishat Motor has increased the price of Hyundai Sonata 2.5L in Pakistan after the change in Advance Tax following implementation of the Finance Act 2023-24 from 1 July 2023.

In a notification, the company said, “The advance income tax for vehicles with engine capacity of 2001cc and above has been changed from a fixed amount to a percentage-based tax value on the vehicle,”

The new prices will be applicable from 1 July 2023.

Hyundai Sonata 2.5L Price in Pakistan

The price of Hyundai Sonata 2.5L in Pakistan with Advance Tax for Filers is Rs. 11,956,800, while the price for Non-Filers is Rs. 12,410,400.

Advance Tax Broken Down

According to the details, the price of the Hyundai Sonata 2.5L is Rs. 11,280,000 with a previous tax rate of Rs. 300,000 for both Filers and Non-Filers without implementation of the new Advance Tax.

For Filers, the Advance Tax is now 6% with a tax value of Rs. 676,800, which means a difference of Rs. 376,800, bringing the price of the vehicle for Filers at Rs. 11,956,800.

For Non-Filers, the Advance Tax has been raised to 18% taking the tax value to Rs. 2,030,400, which means a difference of Rs. 1,130,400, bringing the new price of Sonata 2.5L at Rs. 13,310,400.

Read more: Peugeot 2008 Gets a Price Hike in Pakistan – July 2023.

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